Playtex Profits Rise

Earnings are better than expected.
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Playtex (PYX) - Get Report delivered its 14th consecutive quarter of growth, posting a 50% year-over-year increase in profits.

The Westport, Conn., maker of skin and feminine products, which is being acquired by

Energizer

(ENR) - Get Report

, reported earnings of $15.6 million, or 24 cents a share, for the second quarter. Excluding charges, the earnings were 26 cents a share.

Analysts had been expecting 20 cents, according to Thomson Financial. Last year, Playtex earned $10.3 million, or 16 cents a share.

Net sales were up 31% to $235 million from $180 million for the prior year. However, sales were only up 13% excluding the Hawaiian Tropic acquisition. The Banana Boat brand drove skin-care sales even though the season got off to a slow start because of the weather.

"Our new products have performed well this year, enabling us to grow our business," said Neil DeFeo, Playtex's CEO.

Feminine-care sales grew 9% to $58 million as a result of the new Playtex Sport tampon. Operating income for the division declined 13%, though, due to advertising and promotional spending.

DeFeo refused to discuss the upcoming merger with Energizer and wouldn't take any questions regarding the subject on the conference call.

Shares of Playtex were trading up 11 cents to $18 Friday.